Retiring Lawmakers Get Special Perk In Determining
Mon February 27, 2012
Retiring Lawmakers Get Special Perk In Determining Pensions
North Carolina lawmakers will get a pension boost of more than 30 percent thanks to a state law that allows them to include expense stipends as part of their salary, the News & Observer reports. As a result, the percentage of salary lawmakers receive in their pensions is more than double of most state workers.
Retiring House Minority Leader Joe Hackney, for example, gets a more than $10,000 annual boost thanks to the perk. His pension will be $41,000.
An investigation by USA Today found that
North Carolina is the only state that allows lawmakers to count expense allowances as income in calculating their pension payous.. For other state workers, however, state law says compensation "shall not include any payment for the reimbursement of expenses."
At least 28 lawmakers are retiring this year.